Behavior and deliberation in perfect-information games: Nash equilibrium and backward induction
Abstract
Doxastic characterizations of the set of Nash equilibrium outcomes and of the set of backward-induction outcomes are provided for general perfect-information games (where there may be multiple backward-induction solutions). We use models that are behavioral, rather than strategy-based, where a state only specifies the actual play of the game and not the hypothetical choices of the players at nodes that are not reached by the actual play. The analysis is completely free of counterfactuals and no belief revision theory is required, since only the beliefs at reached histories are specified.
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